Saudi Car Rental Firms Weigh IPOs Amid Kingdom's Tourism Push
Cherry Rent-A-Car is working with EFG Hermes and BSF Capital on a potential initial public offering, according to people familiar with matter, who declined to be named as the information is confidential. Key Car Rental Co. is also working on a possible listing, some of the people said.
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21 minutes ago
Ahead of Friday deadline, appeals court considering lawfulness of Trump's sweeping tariffs
As the clock ticks down to President Donald Trump's Aug. 1 deadline for the resumption of reciprocal tariffs, a federal appeals court is hearing arguments Thursday over whether Trump's sweeping tariffs are lawful. A group of small businesses and a coalition of states are asking the U.S. Court of Appeals for the Federal Circuit to invalidate the bulk of Trump's tariffs, arguing that Trump overstepped his power when he used a decades-old economic emergency statute to enact a flurry of tariffs in April. "The President's chaotic assertion of that purported authority, which changed by the day and wreaked havoc on capital markets and the economy, illustrates both the breadth of powers that the President claims and the danger of unlimited authority in this domain," the coalition of states argued in their brief to the court. The hearing comes at a critical time for Trump, as he rushes to complete trade deals ahead of a self-imposed Friday deadline for dozens of reciprocal tariffs to restart. Lawyers for the Trump administration have argued that a court invalidating the tariffs would create a "foreign policy disaster scenario" as trade negotiations remain ongoing. "To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today," Trump wrote on his social media platform Thursday morning. "If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS." The legal authority for Trump's tariffs was thrown into uncertainty in May when the New York-based Court of International Trade ruled that the president did not have the power to unilaterally impose his global "Liberation Day" tariffs, as well as the tariffs on China, Mexico, and Mexico that Trump imposed to combat fentanyl trafficking. A federal appeals court quickly stayed the Court of International Trade's decision before it could take effect, while the Trump administration's appeal worked its way through the courts. At issue is whether Trump had the authority to enact tariffs without authorization from Congress through the International Emergency Economic Powers Act, which gives the president the power to impose tariffs under an "unusual and extraordinary threat." While the Trump administration has argued that the tariffs combat fentanyl trafficking and seek to settle the country's trade imbalances, the Court of International Trade was unconvinced that the Trump administration demonstrated an "unusual and extraordinary threat" and that those tariffs "deal with the threats." In court filings, the Trump administration has argued that court's decision is "riddled with legal errors" and "would significantly harm the United States if it were to take effect." They have justified the tariffs by citing the country's fentanyl crisis and the "grave threats to the United States' national security and economy" stemming from trade imbalances. "President Trump has found that America's exploding trade deficit, the implications of that deficit for our economy and national security, and a fentanyl importation crisis that has claimed thousands of American lives constitute national emergencies," lawyers with the Department of Justice have argued. The Trump administration has also argued that invalidating the tariffs would "deprive the United States of a powerful tool for combating systemic distortions in the global trading system, thus allowing other nations to continue to hold American exporters hostage to their unreasonable, discriminatory, and sometimes retaliatory trade policies." The group of small businesses and state attorneys general have pushed back against those claims, arguing that the International Emergency Economic Powers Act does not give Trump "unlimited tariff authority" and that he has failed to prove "an unusual and extraordinary threat." "The President's chaotic assertion of that purported authority, which changed by the day and wreaked havoc on capital markets and the economy, illustrates both the breadth of powers that the President claims and the danger of unlimited authority in this domain," they wrote.
Boston Globe
21 minutes ago
- Boston Globe
Are cruises accessible? A wheelchair user with 40-plus cruises under her belt weighs in.
Is that cruise ship friendly to mobility-challenged guests? Sylvia Longmire is happy to share her opinions on the good and bad features she's discovered onboard. Courtesy photo Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Love me tender? Not so much. Notice she says, 'If you get lucky.' Tendering (where passengers are transported from the cruise ship to the shore using smaller 'tender' boats, when the ship cannot dock directly at the port) can be a challenge, the cruise veteran says. 'I cruise a lot with Celebrity Cruises, and all of their Edge class ships have accessible tendering with the magic carpet,' a cantilevered, floating platform that extends from the side of the ship, making it easier for guests to embark and disembark. 'But I've had nightmare scenarios with other cruise lines when I've been picked up and carried in my chair from the ship's platform to the tender while the boat was bobbing up and down due to choppy seas. I thought I'd have a heart attack!' Advertisement Thus, Longmire recommends that wheelchair users choose itineraries where ships are docked at ports of call, or simply be OK with skipping a tender port. 'I've done this plenty of times. I always hit the spa while the ship is empty!' You've got the ship to yourself while everyone else is in port — not a bad thing. How accessible is it? As for the ships themselves: Modern cruise ships on major cruise lines follow the guidelines from the Americans with Disabilities Act. Accessible staterooms are typically oversize, with wider doors, lower counters, roll-in showers, and grab bars alongside toilets, Longmire notes. Balconies are usually accessible too. Public spaces, including dining rooms and theaters, have room to accommodate wheelchair and scooter users. The larger, newer ships are the best option when it comes to accessibility, but the cruise line you choose is also important. 'You're going to get a fairly standard accessibility situation with US-based cruise lines like Royal Caribbean, Carnival, NCL, Princess, Disney, and so on,' Longmire says, but 'my worst cruise-ship nightmares have been aboard the newer MSC ships.' Very few of the doors in the MSC Seascape's public areas are automatic, she notes, and the elevator system was unreliable. In addition, she discovered that MSC's private island, Ocean Cay, was not accessible. 'There are no beach mats for wheelchairs, and no access to food or beverages because it's all in the middle of the sand (and thus not navigable for wheelchairs). The shuttle is not accessible, so you have to rely on your own battery power or manual power to get around the island,' Longmire says. Advertisement Sylvia Longmire is a full-time wheelchair user and accessible travel expert at Courtesy photo Also disappointing from an accessibility standpoint: Princess Cruises' Sun Princess. 'The medallion system was great for unlocking my stateroom door, but there was no automatic door opener,' she says. On some decks, there was a double-door system to reach outdoor spaces. 'One door would be touchless/automatic to open, but the next set of doors were manual and heavy. It made no sense at all,' Longmire says. 'They also didn't have one single lowered table in the casino (to accommodate a wheelchair), and I really wanted to give them my money for blackjack.' Longmire has shared her concerns with the cruise companies. The Globe reached out to both cruise lines, but neither responded by press time. That said, a few cruise lines have won her heart. 'My absolute favorite is Virgin Voyages, with Celebrity Cruises a close second,' Longmire says. They both have all of the standard ADA accessibility features, but there's this: 'a general sense that they've thought of you and want to include you.' It's not surprising that Celebrity embraces this group, since their demographic skews older, so they have plenty of passengers who rely on mobility devices, she says. 'Virgin has a younger demographic, but an extremely inclusive business culture, so they want everyone to have fun.' Examples include accessible karaoke spaces, pool lifts on their ships and on their private beaches, lower tables in the casinos, and designated spaces for wheelchair users all over the ships, she notes. Disney was also great for accessibility, 'but I only cruised with them once when my sons were younger,' Longmire says. Advertisement Take me to the river We suspected that river cruises would be a no-go for this group, given that many lines are European-owned, and therefore not subject to ADA requirements. Plus, river boats are often stacked up next to each other, so you need to walk through one vessel to get to another, and so on, before you finally hit pavement. But if you're pining for a river trip, Longmire has a recommendation: the Vakantieschip Prins Willem Alexander ( Accessible travel blogger/expert Sylvia Longmire has been a full-time wheelchair user for 10 years. She travels extensively, and shares the ins and outs of accessible travel online and in her travel guidebooks. Courtesy photo The kindness of strangers Forty cruises! That's a lot of safety drills and champagne toasts. What has surprised Longmire the most on these journeys? The kindness and grace she's received from local people. 'I'm astonished at the length locals will go to make sure you can experience as much as possible with a disability,' she says. 'Given that tour operators and residents deal with thousands of cruise passengers being dumped in their neighborhood every day, they're all about hospitality,' she says, and proudly share their culture and history with a stranger who might not otherwise be able to enjoy it. 'I can't tell you how many times I've been picked up and carried, both in and out of my wheelchair, just so I can experience something awesome in a foreign port.' Advertisement As for the cruise lines, they could do better when it comes to making passengers with mobility challenges feel welcome, Longmire says. 'When was the last time you saw a TV commercial for a cruise line that included a wheelchair user? I've been doing this for a very long time, and I never have. And that makes no sense whatsoever because every time you go on a cruise, you're going to see dozens of people using wheelchairs, scooters, and walkers. 'People with disabilities spend $50 billion on travel in the US, so I don't understand why cruise lines and the rest of the hospitality sector aren't more aggressively marketing directly to us.' They also haven't recognized the powerful peer-to-peer social media groups — many on Facebook — that focus on accessible travel. 'Cruise lines need to tap into the community and make us feel more seen and desired as future passengers.' 'Everything You Need to Know about Wheelchair Accessible Cruising' is available at Connect with Longmire at Diane Bair and Pamela Wright can be reached at
Business Wire
21 minutes ago
- Business Wire
Bahlam Capital Provides Mezzanine Loan to Doselva P.B.C.
GRANADA, Nicaragua--(BUSINESS WIRE)--Bahlam Capital ('Bahlam'), a Central American-based private equity firm focused on transformational growth opportunities, announced that it provided growth capital in the form of a mezzanine loan to Doselva Public Benefit Corporation ('Doselva' or 'the Company'). Having local fund managers who understand the region's challenges and opportunities is critical for businesses like ours. Since the investment, Doselva has continued to expand its operations across Nicaragua and Honduras, sourcing organic turmeric, ginger, cardamom, allspice, lemongrass, and vanilla from hundreds of smallholder farmers. The Company aggregates, processes, and exports these spices to leading U.S. brands. With a focus on traceability, quality, and sustainability, Doselva has earned a reputation as a trusted supplier to blue-chip buyers. In a region where agricultural value chains are often fragmented and opaque, Doselva's vertically-integrated model offers a rare combination of reliability, scale, and impact. Beyond its role as a reliable exporter, Doselva creates meaningful impact by helping farmers earn significantly higher incomes than they would with traditional crops. The Company also provides technical training and agronomic support, helping farmers adopt more sustainable and productive practices. 'We look for companies that have demonstrated resilience in challenging environments, and Doselva is a great example of that,' said Michael Barjum, Managing Partner at Bahlam Capital. 'We know how difficult it can be to operate in Central America and backing entrepreneurs like Jefferson is one of the reasons we launched Bahlam.' Jefferson Shriver, CEO of Doselva, commented, 'Bahlam's operating experience and strong network in Central America made them an ideal partner. Having local fund managers who understand the region's challenges and opportunities is critical for businesses like ours.' This is Bahlam's first investment in Nicaragua. The firm continues to deepen its footprint across the region through targeted investments that combine operational rigor with long-term development potential. 'We remain deeply committed to Central America and firmly believe that private capital—applied strategically—is vital to the region's development,' added Barjum. 'Investors occasionally ask us whether Bahlam is impact-focused or return-driven. Bahlam is a commercial fund manager first, but our track record shows that generating strong returns and fostering positive impact are not mutually exclusive endeavors. Our investment in Doselva is proof of that.' About Doselva Founded in 2017, Doselva is dedicated to producing and exporting high-quality organic spices from Central America. Working with over 300 smallholder farmers, the company promotes regenerative agroforestry practices by offering technical support, inputs, and guaranteed market access. Doselva's model improves rural livelihoods while advancing sustainable agriculture. For more: About Bahlam Capital Founded in 2023, Bahlam provides transformational capital to mid-sized companies across Central America. The firm identifies, funds, and executes on the most promising growth opportunities for companies in the region. Bahlam seeks businesses at an inflection point, eager to expand their commercial offering or move up the value-creation chain, focusing on four main sectors: business services, consumer, manufacturing, and agro-processing. The firm combines operational rigor with local insights to drive value. Bahlam has offices in Tegucigalpa, Honduras, and Boston, Massachusetts. For more: or follow us at
